About Morrow Batteries
Morrow Batteries is a company based in Oslo (Norway) founded in 2020 by Rahul Fotedar and Pal Brun.. Morrow Batteries has raised $259.05 million across 4 funding rounds from investors including Siemens, ABB and Arendals Fossekompani. Morrow Batteries offers products and services including LFP Batteries and LMNOx Cells. Morrow Batteries operates in a competitive market with competitors including Sonnen, NeoVolta, Big Ass Battery, ENRU and Capture Energy, among others.
- Headquarter Oslo, Norway
- Founders Rahul Fotedar, Pal Brun
- Stage Minicorn
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Sectors
Energy & Utilities
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Email
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Phone
*********
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Website
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Social
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Annual Revenue
$3.17 M (USD)21as on Dec 31, 2023
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Net Profit
$-31.62 M (USD)-214as on Dec 31, 2023
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EBITDA
$-33.32 M (USD)-129as on Dec 31, 2023
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Total Equity Funding
$259.05 M (USD)
in 4 rounds
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Latest Funding Round
$73.75 M (USD), Series D
Sep 28, 2023
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Investors
Siemens
& 8 more
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Employee Count
Employee Count
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Products & Services of Morrow Batteries
Morrow Batteries offers a comprehensive portfolio of products and services, including LFP Batteries and LMNOx Cells. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Batteries for commercial energy systems and grid applications.
High-cycle cells for electric vehicles and sustainability.
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Funding Insights of Morrow Batteries
Morrow Batteries has successfully raised a total of $259.05M across 4 strategic funding rounds. The most recent funding activity was a Series D round of $73.75 million completed in September 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series D — $73.7M
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First Round
First Round
(07 Sep 2021)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Sep, 2023 | Amount | Series D - Morrow Batteries | Valuation | A Energi , Maj Invest |
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| May, 2023 | Amount | Series C - Morrow Batteries | Valuation |
investors |
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| May, 2022 | Amount | Series C - Morrow Batteries | Valuation | Siemens , ABB |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Morrow Batteries
Morrow Batteries has secured backing from 9 investors, including institutional and venture fund investors. Prominent investors backing the company include Siemens, ABB and Arendals Fossekompani. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private equity investments are directed toward ESG-focused companies.
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Provides renewable energy production and services for private and business customers.
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Founded Year | Domain | Location | |
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Industrial software is developed for automation, electrification, and digitalization solutions.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Morrow Batteries
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Morrow Batteries
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Morrow Batteries Comparisons
Competitors of Morrow Batteries
Morrow Batteries operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Sonnen, NeoVolta, Big Ass Battery, ENRU and Capture Energy, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Provider of solar integrated power storage system
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| domain | founded_year | HQ Location |
Solar-based energy storage systems are manufactured for home use.
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| domain | founded_year | HQ Location |
Energy storage solutions are provided via an online platform.
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| domain | founded_year | HQ Location |
Provides mail consolidation and logistics services to optimize business supply chains.
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| domain | founded_year | HQ Location |
Offers turnkey battery energy storage systems for industrial and green energy needs.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Morrow Batteries
Frequently Asked Questions about Morrow Batteries
When was Morrow Batteries founded?
Morrow Batteries was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is Morrow Batteries located?
Morrow Batteries is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Who is the current CEO of Morrow Batteries?
Lars Christian Bacher is the current CEO of Morrow Batteries.
Is Morrow Batteries a funded company?
Morrow Batteries is a funded company, having raised a total of $259.05M across 4 funding rounds to date. The company's 1st funding round was a Series C of $105.53M, raised on Sep 07, 2021.
What is the annual revenue of Morrow Batteries?
Annual revenue of Morrow Batteries is $3.17M as on Dec 31, 2023.
What does Morrow Batteries do?
Founded in 2020 and based in Oslo, Norway, operations are focused on the development of lithium iron phosphate batteries within the energy storage sector. These batteries are designed for applications in heavy-duty construction machinery, delivery trucks, and buses. Key leadership includes Co-Founder and CTO Rahul Fotedar, Co-Founder Pal Brun, and CEO Lars Christian Bacher.
Who are the top competitors of Morrow Batteries?
Morrow Batteries's top competitors include Sonnen, NeoVolta and Big Ass Battery.
What products or services does Morrow Batteries offer?
Morrow Batteries offers LFP Batteries and LMNOx Cells.
Who are Morrow Batteries's investors?
Morrow Batteries has 9 investors. Key investors include Siemens, ABB, Arendals Fossekompani, Arendal gamle rådhus, and A Energi.
What is Morrow Batteries's valuation?
The valuation of Morrow Batteries is $170M as of Sep 2021.